Diamond Sales and Production Update

RNS Number : 8296O

BlueRock Diamonds PLC

24 August 2017

 

24 August 2017

BlueRock Diamonds PLC

("BlueRock" or the "Company" or "BRD")

Diamond Sales and Production Update

BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the

Kareevlei Diamond Mine in the Kimberley region of South Africa ("Kareevlei") announces an update on its August 2017 diamond sales tender and production.

In August 2017, a parcel of 400.06 carats was sold at tender, achieving an average of $330 per carat. The diamonds produced and included in August's sales tender has resulted in a grade of 2.07 cpht showing an increase to Kareevlei's previous average diamond grade achieved during 2017 of 1.7cpht.

As noted previously production has continued to improve with July's total production of 20,200 tonnes representing an increase of 40% on the production achieved in June 2017. The total tonnage for August is on target to exceed July's total.

Adam Waugh, Chief Executive Officer of BlueRock Diamonds, commented: "I am pleased to say that our efforts over the past 18 months continue to bear fruit. Having recently raised capital to further improve our production levels and provide working capital, we are on track to reaching our target production of 25,000 tonnes per month. Prices per carat continue to exceed expectations and recovery grades are beginning to improve.

"We are now well on our way to achieving profitable mining with the expected further improvement to grades as we begin processing the sub 20 metre level kimberlite in September."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information, please contact:

BlueRock Diamonds plc

Adam Waugh, CEO

[e-mail]

SP Angel (NOMAD and Broker)

Stuart Gledhill / Lindsay Mair

[phone]

Yellow Jersey (PR and IR)

Felicity Winkles / Joe Burgess / Katie Bairsto

[phone]

About BlueRock Diamonds plc (AIM: BRD)

BlueRock is a diamond mining company with activities in the Kimberley region of South Africa. BlueRock own a diamond processing plant and the mining right over the Kareevlei Tenements in South Africa.

 

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